The Day's Winners

Restaurant chain

Dave & Buster's

( DAB) was rising 13% to $11.98 on word a management-led investment group has agreed to acquire the company for $155 million. The group is offering $12 a share for the company.

Michaels Stores

(MIK) - Get Report

was gaining more than 12% to $43.32 a day after the arts and crafts retailer reported first-quarter earnings of 29 cents a share, topping estimates by 9 cents. Revenue rose 15% to $603.2 million.

Serena Software

(SRNA)

was climbing 11% to $14.23 following an announcement that the company will replace

Avant!

( AVNT) in the S&P SmallCap 600 after the close of trading on Tuesday.

Sulzer Medica

(SM) - Get Report

has decided to accept a $725 million class-action settlement with patients exposed to faulty hip and knee implants, according to reports, and the news was sending the company's shares up 13% to $15.36. Sulzer, a medical technology company, is changing its name to Centerpulse.

The Day's Losers

Shares of

Medical Action Industries

(MDCI)

, a supplier of medical and surgical disposable products, were falling 14% to $12.67 after the company reported fourth-quarter earnings of 17 cents a share, 2 cents shy of the estimate of the one analyst who follows the company. Medical Action also forecast fiscal 2003 earnings of 83 cents to 88 cents.

NCI Building Systems

(NCS) - Get Report

was losing 8% to $19.70 after Wachovia Securities downgraded the stock following the company's quarterly earnings report. NCI, a maker of metal products for the building industry, met analysts' second-quarter estimates but forecast third-quarter earnings that would be below the consensus estimate.

Young Broadcasting

( YBTVA) was dropping 8% to $20.18 after Merrill Lynch cut its near-term rating on the stock to reduce/sell from neutral. The firm said Young's broadcast cash flow at KRON-TV in San Francisco has collapsed with the loss of its NBC affiliation.